
Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Pak captain Babar Azam remained uninhabited against West Indies on Sunday. He got out on a person
Corona infection seems to be gaining momentum in the country. On Friday, 640 new cases of coronav
Pakistan vs Iran: Did Pakistan consult the US before attacking Iran? Know what America said
Many countries of the world are worried about the increasing tension between Pakistan and Iran. A
Operation Sindoor India has taken its revenge exactly 15 days after the Pahalgam Terror Attack. L
The Supreme Court will hear the Bhojshala dispute in Dhar, Madhya Pradesh, today. The Hindu
Maharashtra Political Crisis: West Bengal Chief Minister Mamata Banerjee, known for her sharp att
Aam Aadmi Party has responded to the medical report of Tihar Jail administration on Chief Ministe
Salman Khan has taken a break from hosting "Bigg Boss 19" and embarked on the Dabangg Tour. Rohit
Amid apprehensions of a new wave of Corona in the country, 11 sub-variants of the Omicron variant
Big blow to Bengal government, Calcutta High Court orders CBI inquiry on post-poll violence
Kolkata: The West Bengal government has suffered a major setback. The Calcutta High Court has ord